In this our time, we normally experience inflation, which is an increase in the prices of goods and services, almost every part of the world experience this and inflation is now global. Most times when I see how the price of goods and services increases in a very short period of time it surprises me, I always think that this inflation affects my country Nigeria mainly but i have also noticed that other countries also experience this, in my country, since our new president was elected there has been a massive increase in the price of goods and services more than it has been in the countries record, things add money in daily basis and a common man can no longer afford the things he needs.
Inflation affects every corner of the world, but I believe that our own is the worst, things are going from better to worst, everyone is now confused. Things you can buy with one naira before you can no longer buy them because they are now selling it at one hundred naira. In my currency naira, one dollar is equal to 1300 or more, this also shows how low the value of naira is and naira falls everyday, while dollars is increasing everyday.
Inflation in my country has also caused a reduction in investment and purchasing, you can no longer invest because Most times the money at hand is not even enough for your feeding, and investment opportunities are now more high than before, I checked my Internet today and I founded out the exchange rate of dollars is still high and when one want to buy any commodity or goods from foreign countries, you will now pay higher because the money you are using to pay have decreased in value. You now pay more just to get less and this factor has affected the country.
I don't think that inflation has any positive impact on the lives of anyone or any country, it only have only negative effects, I have been spending more money in buying things I don't spend much money in buying, and what annoys me is that expenses in now more than income, honestly this pains me, I spend a lot on basic things and I don't get back the money, government should know techniques the will make use of in other to avoid inflation.
Inflation simply explained is the increase in price of goods and services and during inflation money loose it's value over that period of time. When inflation happens almost all the prices of different goods and services increases no one is left out, there's always a general increase, so we can rightly say that everyone may have noticed inflation in one way or the other.
Inflation is occurs everywhere but they important thing is how anyone or any country who has experienced it try to overcome it, investing can also help in reducing inflation, and investing wisely can very during inflation.
Finances can be affected deeply by inflation, many their purchasing power has reduced, the can no longer spend money on things they spend money on before and the can no longer buy things they buy before, lost of lives has occurred as a result of inflation, because people can no longer buy food and other commodities with the little money they have and most people have starve to death and this is very sad. They price of things are going more higher and higher and it is not even reducing, rather it keeps on adding, we are experiencing this mainly in this my area, you will buy something now and in the next minute that the same thing you just bought has added money and Increase In price.
I think that it lies in the power of our current government to checkmate how everything is going and help control the price of goods and services and more especially make the goods more available, the should provide different monetary policies and strategies that will help prevent inflation. When there's also inflation the government can also work hard to prevent it from affecting the people badly, not only should they share money or assistance to some citizens, rather the should employ needed measures that will help stop or reduce the problem at hand. A friend of mine said that during inflation period that the government should increase the salaries of their works and different entities should also do the same but I don't think that this is an important measure, because even if you increase the salaries they are still buying things in high prices so it is still affecting them.
Conclusion Inflation when it occurs affect any society or city we need to work hard to prevent it or stop it if we are already experiencing the situation. During inflation needed steps needs to be followed carefully to help solve the problem at home and government of every country needs to work hard to always help the citizens of her country during this period.
This is one of my entry for the March monthly prompt, join and make post based on the topics.
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